New Vision Sales Automobile Dealer Sales Training – Article Series

On the Phone with the Subprime

Customer

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BDR intuition is the skill to know which direction to take at the
fork in the road during customer interactions. Ad and lead
sourcing helps make this simple by identifying credit issues
early. Being on point and having BDR intuition when speaking with
a special finance customer is vital because these potential
buyers are likely filling out multiple credit applications.

Once you’ve uncovered that someone has subprime credit, use

communication skills and persuasion techniques to build rapport
and let the customer know you’re the right dealer to do business
with. Validate the fact that the customer is looking at the big
picture and understands how important having a good credit score
is. Let SF customers know that buying a car from you and keeping
up-to-date on payments can help improve their credit. Make the
customer feel good about what they’re doing, and above all, be
sincere.

Part of why I recommend using skills when on the phone instead of

just scripts is because relying solely on a script can make a
person sound like a robot, which completely lacks sincerity and
certainly does nothing to differentiate the dealership. Once
you’ve established rapport, instill a sense of confidence.
Utilize influential techniques to take them off the market.
Inform them of how submitting multiple credit applications can
adversely affect their credit score and that some dealers may
submit multiple applications to finance companies on their behalf
without telling them, further affecting their credit. Some
finance companies get a little leery of a customer applying to
multiple finance sources, so let the customer know that you are
their advocate.

Once you’ve formed a bond with the customer, start using “us” and
“we” to help solidify the relationship. . Next, move into
assumptive questioning to set an appointment. “Is today or
tonight best for you?” Then, nail down a specific time. If they
say they can come in around 2:00p.m., say, “I’m looking at the
appointment calendar, and I see a 2:10 available.”

If the customer confirms the specific time, ask without a pause,

“Do you have a pen handy? I’ll wait.” By not pausing after the
question and immediately saying you’ll wait, you don’t give
customers the option to just say they have a pen when they really
don’t. Then, once they have a pen, give them a confirmation
number, directions to the dealership, appointment time, name of

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the salesperson/manager/credit specialist they’ll meet with, tips
and a callback number.

If during the conversation the customer starts asking specific

questions about a car, interest rate or payment, it’s important
to use the Boomerang system to overcome any objections in a non-
rebuttal or -insincere manner and bring the conversation back
around to what’s most important—finding the right vehicle for the
customer that’s within his or her budget.

Some dealerships take credit applications and answer these

questions over the phone, but I recommend bringing the customer
to the dealership for that part of the process. What you don’t
want to do is start over promising. If you under-promise and
over-deliver, you’ll exceed expectations every day, and the
opposite can be said if you over-promise and under-deliver.

You can also tell the customer, “I don’t want to limit our
options too early, and it would make more sense for someone who
works in the finance office to help you with these questions. Not
being licensed in F&I, I would be doing you an injustice by
quoting you a rate right now.” Emphasize that “our” credit
specialists have great relationships with our many finance
companies. Explain that their appointment is with a person who
will guide them through the process and explain all of their
options.

The one exception is if the customer lives a considerable

distance away from the dealership. You need to determine the
driving distance threshold on answering deal-specific questions
over the phone. When on the phone with customers who live far
away and want to submit a credit application, walk them through
filling out a credit application on your Web site, and while
you’re doing this, reiterate the importance of not submitting
multiple credit applications.

Notate every significant detail into the CRM. These are for
intelligent use when working with the customer upon arrival. If
while on the phone the customer shared information about down
payment or monthly payments, make note of that. The communication
and rapport-building skills you use when speaking with SF
customers over the phone can make or break a sale.

The customer may have already been to other dealerships and been
treated poorly, so by creating a good relationship with the

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customer on the phone, you can immediately differentiate your
dealership from competitors and not just sell a vehicle to them,
but to everyone they know!

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LinkedIn: http://www.linkedin.com/in/grodean

New Vision Sales Inc.

1670 Hwy 160 West Suite 206
Fort Mill, South Carolina 29708
803-802-2124
Toll Free: 866-532-2827
Info@NewVisionSales.com

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